Krutilla's legacy: Twenty-first-century challenges for environmental economics

V. Kerry Smith

Research output: Contribution to journalArticle

5 Scopus citations

Abstract

Few people have influenced environmental economics more than John. It has now been fifteen years since his last major book was published (Bowes and Krutilla), and early forty years since the article, "Conservation Reconsidered," that most environmental economists associate with him, appeared in the AER. This article revisits John's ideas in two areas. The first considers his arguments for existence values as a legitimate component of the benefits derived from public decisions for environmental assets. The second describes how he demonstrated that physical, economic, and institutional sources of interdependence alter the way benefit-cost analyses should be developed.

Original languageEnglish (US)
Pages (from-to)1167-1178
Number of pages12
JournalAmerican Journal of Agricultural Economics
Volume86
Issue number5
DOIs
StatePublished - Dec 1 2004

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

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